The Week Ahead: Will Forbearance Volumes Continue to Flatten?

first_img About Author: Mike Albanese  Print This Post Subscribe in Daily Dose, Featured, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / The Week Ahead: Will Forbearance Volumes Continue to Flatten? Share Save May 29, 2020 1,132 Views The Week Ahead: Will Forbearance Volumes Continue to Flatten? Servicers Navigate the Post-Pandemic World 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. 2020-05-29 Mike Albanese Here’s what else is happening in The Week Ahead:Construction spending (June 1)Unemployment Rate (June 5)U.S. Banking Committee Hearing on CARES Act (June 2)  Related Articlescenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Previous: Will Housing Lead Post-Pandemic Recovery? Next: Iowa Gov.: Foreclosure Moratoriums Will Not be Extended Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Black Knight will release the latest numbers surrounding forbearance on Friday. Volumes of forbearance plans have flattened, according to the latest data from Black Knight. As of May 26, 4.76 million homeowners are in forbearance plans, with a net increase of just 7,000 new forbearance plans since last week.At these levels, mortgage servicers need to advance a combined $3.6 billion a month to holders of government-backed mortgage securities on COVID-19-related forbearances. That’s on top of the $1.5 billion in T&I payments they must make on behalf of borrowers.P&I advance payments have been capped at four months for servicers of GSE-backed mortgages. Given today’s number of loans in forbearance, servicers of GSE-backed loans still face up to $8.8 billion in advances over that four-month period.According to a survey from LendingTree, most homeowners who have been approved for a mortgage forbearance may not need one. Of the 25% of homeowners surveyed that applied, 80% were approved for a forbearance. However, while the majority of people who applied were approved, only 5% said they wouldn’t have been able to pay their mortgage without forbearance. Another 72% of those who received forbearance reported feeling at least a little guilty about it.The nationwide delinquency rate hit its highest single-month increase in history in April, according to the First Look at April mortgage performance data from Black Knight. According to Black Knight, some 3.6 million homeowners were past due on their mortgages as of the end of April (including the roughly 211,000 who were in active foreclosure)—the highest number since January 2015.This is an increase of 1.6 million since March, the largest single-month jump on record. This number includes homeowners past due on mortgage payments who are not in forbearance, as well as those currently enrolled in forbearance plans and who did not make an April mortgage payment.The national delinquency rate nearly doubled to 6.45% from March, the largest single-month increase ever recorded, and nearly three times the previous record for a single month from back in late 2008. Delinquency increases in Nevada (+5.2%), New Jersey (+5.1%), and New York (+4.9%) led the states, while Miami (+7.2%), Las Vegas (+6.2%), and New York City (+5.4%) topped the 100 largest metro areas. Demand Propels Home Prices Upward 2 days agolast_img read more

Press release: London mugger jailed after Solicitor General’s intervention

first_img Bell launched an unprovoked attack using a weapon against his victim, and I am pleased that today the Court of Appeal has agreed that the risk he poses to the public warrants immediate custody. A man who attempted to rob a taxi-driver at knife-point has been jailed today after the Solicitor General, Robert Buckland QC MP, referred his sentence for being too low.Alexander Bell, 26, demanded money from his victim while threatening him with a blade. Even though the victim agreed to pay him, Bell slashed at him with the blade and a struggle ensued.Bell was originally sentenced at Isleworth Crown Court in March, where he was given a sentence of 2 years imprisonment suspended for 2 years. Today, after the Solicitor General’s referral, the Court of Appeal increased his sentence to 2 years 10 months immediate custody.Commenting on the sentence increase, the Solicitor General said:last_img read more

Photos: Former Giants star Aubrey Huff selling California beach house

first_img“Huff Daddy” won world … Former Giants star Aubrey Huff is selling his Solana Beach, Calif. home for $2.275 million, reports the L.A. Times.Click here if viewing from a mobile device.The three bedroom, three-and-a-half bath home a few blocks from the beach spans 2,684 square feet. It features three en suite rooms, a sundeck and exposed outdoor shower, among other amenities.Jeneane Mason with Douglas Elliman is the listing agent. Huff also sold another home in San Diego last fall.last_img

Taking the Nelson Mandela Route

first_imgThe Nelson Mandela Route starts in the Eastern Cape, in King William’s Town, which began as a London-based Missionary Station in 1826 and provides a backdrop to early European influences in a struggle region of British, Boer and Xhosa conflicts.The town’s Amathole Museum has a Xhosa Gallery, Missionary Museum and German Settlers display. The grave of Black Consciousness leader Steve Biko is also in the town.The Mandela Route moves through Bhisho, home of the provincial government, and takes a scenic drive on the N2 to Mthatha, which hosts the Nelson Mandela Museum.The museum is a collection of heritage sectors spread across three locations: Qunu, Mveso and Mthatha. A display reflecting the life and times of Mandela can be found at the Bhunga Building section of the Nelson Mandela Museum in Mthatha.Mandela has received thousands of gifts from presidents, groups and ordinary people. Accepted on behalf of the people of South Africa, they are in safe-keeping at the museum for the benefit and appreciation of the nation. Artefacts ranging from children’s letters to bejeweled camel covers say more about the donors than their famous recipient.Scenes from Mandela’s childhoodThe second sector of the museum is the Community Museum and Youth & Heritage Centre in the village of Qunu, where Mandela spent his childhood.Here, tourists can view the remains of young Nelson’s primary school, the rock he used to slide down with friends, and the graveyard where his son, daughter and parents are buried – all set in the rolling hills of Pondoland, where Mandela grazed his family’s cattle.Alongside the N2 is Mandela’s current home, where he entertains a steady stream of people from the neighbouring village and holds an annual party for children on his birthday. A tunnel running under the N2 allows visitors to “cross” the road in safety.A thatched open-air museum at Mveso – the third sector of the Nelson Mandela Museum – shelters a photographic exhibition depicting significant moments in Mandela’s life. Nearby are the remains of the homestead where Mandela was born and raised.Free guided tours of all three sectors of the Nelson Mandela Museum can be arranged via the museum in Mthatha.The Mandela Route then moves back to East London, which has a museum housing a superb collection of southern Nguni beadwork.Staying on the trail of the man himself, one has to leave the Eastern Cape, as he did.Mandela in JohannesburgThe Apartheid Museum in Johannesburg is a state-of-the-art tribute to the rise and fall of apartheid. Twenty-two exhibition areas take the visitor on an emotional journey through a state-sanctioned system based on racial discrimination.It was put together on a seven-hectare site by a team of curators, film-makers, historians, designers and architects. Film footage, photographs, text panels and artefacts depict the epic saga of apartheid.Mandela’s humble house in Orlando West, Soweto has been turned into the Mandela Family Museum. It houses an assortment of memorabilia, paintings, photographs and collection of honorary doctorates bestowed on Mandela from universities around the world.This matchbox home at 8115 Ngakane Street was the abode that Mandela shared with his first wife, Evelyn Ntoko Mase. She moved out after their divorce in 1957, and when Winnie Madikizela married Mandela in 1958, she then moved into this Soweto home.Mandela seldom stayed here as he was living life on the run as the “black pimpernel”. Nearby is the Hector Pieterson Memorial to the schoolboy shot during the June 16 riots of 1976, as well as the home of Nobel Peace laureate Desmond Tutu.Mandela’s larger-than-life character and famous “Madiba jive” are also captured in an outsize 6 metre statue at the upmarket shopping destination Nelson Mandela Square (formerly Sandton Square) – a prime photo opportunity for tourists.This famous builder of bridges between people has also had the largest cable-stayed bridge in southern Africa named after him. It links the Johannesburg central business district of Newtown and the northern parts of the city.Robben IslandFinally – or firstly? – to Robben Island, off the coastline of Cape Town.The famous prison has incarcerated indigenous African leaders, Muslim leaders from the East Indies, Dutch and British settler soldiers and civilians, women and anti-apartheid activists, including South Africa’s first democratic President, Nelson Rolihlahla Mandela.Today it is a museum which acts as a focal point for South African heritage. Ex-political prisoners act as tour guides in a place of exile and imprisonment which epitomises the triumph of the human spirit over adversity.last_img read more

a month agoEx-Chelsea striker Marko Mitrovic: I was ready to sign for ‘big club’ Bury

first_imgEx-Chelsea striker Marko Mitrovic: I was ready to sign for ‘big club’ Buryby Paul Vegasa month agoSend to a friendShare the loveFormer Chelsea striker Marko Mitrovic has revealed he was set to sign for Bury before they were kicked out of the Football League.Mitrovic, a former Sweden youth international, was signed by Chelsea as a 16 year-old from Malmo FF.The attacking talent spent three years inside the Chelsea academy before being promoted to the Blues first team for the 2011–2012 season. Mitrovic never managed a senior appearance for the club – but his English ties drew him back this summer with the prospect of joining Bury. The striker’s last club was Serbia’s Radnicki Nis and by his own admission, he was convinced Bury would be financially saved and he’d be able to sign for the then League Two club.He revealed to Fotbollskanalen: “I was 100 per cent positive that everything would be okay. We had already agreed on everything and I was just waiting to get to sign. I was ready at the start of the season.”I thought the club would be saved and it also seemed that EFL wanted to save the club. I never thought it was not going to work out.”At Chelsea, Mitrovic won the FA Youth Cup and was part of a generation inside Cobham who included the likes of Michael Mancienne, Jeffrey Bruma, Gökhan Töre and Nathaniel Chalobah. On Bury, outwith their financial problems, Mitrovic insists the club was set up for success. He added: “It was really a big club. They had the old Manchester City facilities and the training facility is located near Manchester United’s and Manchester City’s training facilities in Carrington. It would have been a really good move, but this is how it sometimes is.”- updated September 30 TagsTransfersAbout the authorPaul VegasShare the loveHave your saylast_img read more

25 days agoLiverpool battling FA to avoid Carabao Cup expulsion

first_imgLiverpool battling FA to avoid Carabao Cup expulsionby Paul Vegas25 days agoSend to a friendShare the loveLiverpool are battling to stay in the Carabao Cup.The Daily Mail says Liverpool have become embroiled in a row with the FA as they battle to avoid being expelled from the Carabao Cup for fielding an ineligible player in last week’s win over MK Dons.In ordinary circumstances expulsion from the competition is the standard sanction for using a player who isn’t eligible, but Liverpool are understood to be pinning the blame on the FA in the hope of being given a lesser punishment. Liverpool contend they applied for an international transfer certificate for Pedro Chirivella when he returned to Anfield from a loan spell in Spain with Extremadura last summer, but the 22-year-old had not received clearance when he came off the bench for the final 27 minutes of Liverpool’s third-round victory on Wednesday. The club are blaming the FA for the administrative oversight as they first sought clearance for Chirivella in July, which they will use in mitigation to try to prevent being thrown out of the competition.The FA’s position is that it is the responsibility of the clubs to make sure all their players are eligible to play. About the authorPaul VegasShare the loveHave your saylast_img read more

Fired Mississippi State Coach Rick Ray Posts Classy Statement About Dismissal

first_imgMississippi State coach Rick Ray.IG/rickray01Just ahead of today’s NCAA Tournament action, Mississippi State athletic director Scott Stricklin announced that it will be replacing Rick Ray as head men’s basketball coach. Ray, who was 37-60 in three years in Starkville, just released a very classy statement, thanking Mississippi State for the opportunity and praising the university community.Before taking over in Starkville, Ray had been an assistant at Purdue and Clemson. Expect him to latch on with another power program’s staff soon enough.last_img

Habitat protection widened for endangered killer whales off Vancouver Island

first_imgVANCOUVER — Two new areas off Vancouver Island have been designated by the federal government as protected for critical habitat for resident killer whales.Fisheries and Oceans Minister Jonathan Wilkinson says the decision means key foraging locations for the endangered whales are protected from destruction. The government is increasing the amount of protected habitat from about 6,400 square kilometres to roughly 10,700 square kilometres.The new protected area is intended to help recovery efforts for northern and southern resident killer whales, and covers an area off southwestern Vancouver Island.The number of southern resident killer whales is down to 74 as the orcas face several threats, including a lack of prey, particularly chinook salmon, noise and physical strikes from ships, and contaminants in the water.The state of Washington recently announced US$1.1 billion in spending and a partial whale-watching ban in an attempt to help the population’s recovery.The money would go toward protecting and restoring habitat for salmon, boosting production from salmon hatcheries, storm-water cleanup and quieting vessel traffic.In Canada, the government says the announcement on Wednesday is in addition to $167 million in spending announced this year to help the whales.Measures it has introduced include requiring vessels to slow down, tougher regulatory controls on contaminants and spending aimed at protecting and boosting the stock of chinook. Whale-watching vessels and other boats have also been ordered to stay 200 metres away from the animals.“We know that Canadians care deeply about these whales,” Wilkinson said in a statement. “These new critical habitat areas will ensure that the ocean space that the whales frequent and forage for prey is protected for generations to come.”The distinctive black-and-white orcas were listed as an endangered species in the U.S. and Canada well over a decade ago. Their numbers are now at the lowest levels in more than three decades.One of the whales was seen this summer keeping the body of her dead calf afloat in waters off B.C. and Washington state for more than two weeks, triggering international media coverage of their plight.The federal government’s approach to protecting whale habitat has not been without opposition as sport fishing, tourism and business leaders from across Vancouver Island warned earlier this month that jobs are at stake because fishing closures have been extended. Seventeen Chambers of Commerce on the Island have asked Fisheries and Oceans to consider the impact of its management measures on the economies of coastal communities.The Canadian Presslast_img read more

Blue Ant unveils Digital Studios launches three series on Facebook

first_imgBlue Ant Media has rebranded the production arm of Omnia Media and announced the launch of three short-form series on Facebook’s Watch platform.Blue Ant-owned multichannel network Omnia Media launched its production arm in June 2017 and unveiled a slate of 72 short-form videos for CBC Life. Now rebranded as Blue Ant Digital Studios, the L.A.-based studio will look to expand beyond its original focus on gaming content, and is looking to produce across genres, including scripted, unscripted, live-action and animated content, according to a release.Dan Lubetkin will continue to oversee production and development as chief content officer at Blue Ant Digital Studios and will report into Sam Sniderman, EVP, production, Blue Ant Media. Login/Register With: Advertisement Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment center_img Advertisement Facebook Twitterlast_img read more

Ohio State womens basketball set for stiff test against No 8 Penn

Following a 19-point loss on the road against Wisconsin Sunday, the Ohio State women’s basketball team is in the process of preparing for yet another stiff test against No. 8 Penn State. With a whole week to prepare for this Sunday’s matchup against the Nittany Lions, OSU coach Jim Foster said he is ready to move past the loss to the Badgers. “That was an effort that we had to address for really the first time this year, and it was addressed and that was it,” Foster said. “Now it’s time to move on and have good practices.”  The task of beating Penn State, albeit at home at the Schottenstein Center, might be a tall order for an OSU (11-8, 1-5 Big Ten) squad that has struggled in Big Ten play.  “Everybody has to play their role and people weren’t stepping up to the responsibility,” said senior guard Tayler Hill. “Talk is cheap we just have to play together, it’s as simple as that.”  Meanwhile, Penn State (16-2, 6-0 Big Ten) heads to Columbus on a 10-game winning streak after defeating Minnesota, 64-59, Thursday. The Nittany Lions are 16-2 on the season and undefeated in conference play with a 6-0 record. In fact, Penn State hasn’t lost a contest since a 67-52 drubbing at the hands of then No. 2-ranked Connecticut. The Nittany Lions are led by junior guard Maggie Lucas, who is averaging 19.8 points per game, and senior guard Alex Bentley, who averages 12.9 points per game. “The nice thing is we have had a week to prepare versus preparing for two games in a week,” said OSU senior forward Emilee Harmon. “They have a great backcourt but so do we, so we just have to come out and take care of business like we know we have the ability to do.” OSU is set to tip off against Penn State at 1 p.m. Sunday at the Schottenstein Center. The game will be televised live on the Big Ten Network. read more